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Refinancing when upside down

refinancing when upside down

If you have an "upside down mortgage" you may be eligible for the HARP loan, but your current lien must be owned by Fannie Mae or Freddie Mac. These government sponsored entities own about 90% of the home loans that have closed in the last 10 years, so there is a good chance you may be eligible. There are a few other underwater mortgage refinance alternatives if you do not meet the HARP profile. The streamline program also approves upside down refinance loans to customers that already have an FHA or a VA loan.

Find Fixed Underwater Mortgage Rates

Get a no cost loan quote today for an underwater mortgage with a low fixed interest rate. Many of our customers have recently closed an

upside mortgage refinance with competitive fixed rates. Shop lenders that provide no lender fee options as well, so discuss your goals with one of our reps today. Nationwide Mortgages delivers the negative equity solutions for distressed homeowners across America.

Underwater Mortgage Refinance Highlights
  • No LTV Limits or Restrictions with the HARP Mortgage FHA Loan Amounts range from $271,000 to $700,000 (based on HUD high cost limits in county)
  • No Cost Options
  • Cash Back Not Allowed on the Upside Down Mortgage
  • DTI Limits range from 36- 43%depending on program
  • Documentation - Full or Limited with Streamline
  • Streamline and HARP mortgage rates are competitive with conforming interest rates.
  • Processing times range from 2 to 4 weeks!

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